The value of investments can fall as well as rise. You may get back less than the amount you invested.
UK Retirement and Wealth Solutions is a new division of the global asset management firm, Brookfield. Its focus is on the UK market, where the company has a substantial investment presence across infrastructure, real estate and renewable power. Read more theinvestorscentre.co.uk
Pensions
Personalized Financial Strategies: Designed to Meet Your Goals
UK pension schemes, which are similar to US 401(k) and 403(b) plans, are the main retirement savings vehicles for workers in the country. Employees receive regular contributions from their employers and can often make additional personal contributions. In some cases, the employer will match these payments. People can also consolidate previous pension pots into an Individual Savings Account (ISA) or Small Self-Invested Pension (SIPP).
In 2015, pension reforms radically changed the retirement savings landscape by enabling individuals over 55 to access their defined contribution (DC) pension pots with unprecedented flexibility. While demand for annuities fell after these changes, many retirees are now choosing to use flexi-access drawdown products to maintain control over their assets and potentially grow their savings.
The UK advice market is operating in a rapidly changing environment, with clients expecting greater transparency and a more holistic approach to managing their retirement income. Amid these challenges, advisors are focusing on improving record keeping to help them better meet client expectations and deliver retirement income outcomes.
…